Stock Market & Financial Investment News

NuVasive releases $62.5M from escrow following appeals court rulingNuVasive announced the release of $62.5M from a restricted escrow account in relation to NuVasive's trademark dispute regarding the NeuroVision trade name. In January 2011, an unfavorable judgment in the amount of $60M plus attorney fees and costs was entered against NuVasive relating to its use of the NeuroVision trade name. NuVasive subsequently entered into an escrow arrangement and transferred $62.5M into a restricted escrow account to secure the judgment. In reversing the judgment against NuVasive, the Ninth Circuit Court of Appeals remanded the case for a new trial and instructed the court to assign a different judge. The plaintiff has not appealed the Court of Appeals' ruling and NuVasive has now secured the release of the $62.5M from the restricted escrow account.